Published November 17, 2015 4:41pm EST | Updated November 17, 2015 7:04pm EST

Obama Would Veto House Bill To Reform Fed: White House

President Barack Obama would veto the House Republican measure to reform the Federal Reserve, the White House said Tuesday. In a statement, the administration said the bill would subject the Fed to audits based on political whims of members of Congress, of either party, threatening the independence of the Fed and having negative impacts on the Fed's effort to promote price stability and low unemployment.